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Vox Sentences: The tweet that moved markets

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Trump’s tweet about the jobs report affects the stock market; Spain’s Mariano Rajoy is out as prime minister.


Trump tweets, the market jumps

President Trump Participates In The U.S. Coast Guard Change of Command Ceremony Olivier Douliery-Pool/Getty Images
  • The US economy is humming along, with a better-than-expected jobs report released today by the US Labor Department. [Bureau of Labor Statistics]
  • The country’s unemployment rate is now 3.8 percent, the lowest it’s been since 2000, which shows that recovery from the 2008 recession is still strong. [NYT / Neil Irwin]
  • While economists had predicted the US would add 190,000 jobs in the past month, the actual number was 223,000. However, there’s still a fear that recent unpredictability from President Trump’s trade fights could damage further growth. [Associated Press]
  • The persistent caveat to rosy job numbers is the fact that wages still haven’t gone up. So while more people are employed, they still may not be feeling the full economic benefits. [NPR / Chris Arnold and Avie Schneider]
  • The jobs report also became a mini controversy because Trump tweeted that he was “looking forward to seeing the employment numbers this morning.” [Donald Trump via Twitter]
  • Trump’s tweet didn’t contain any jobs data, but it broke protocol — the executive branch isn’t supposed to make any announcements about jobs numbers (that’s because they’re really powerful numbers with the ability to change financial markets, and potentially could be used by someone to profit). [Vox / Matt Yglesias]
  • True to form, Trump’s tweet did in fact move financial markets on Friday. The question is whether this was a one-off tweet or if this will continue to happen. [Vox / Matt Yglesias]

Ahoy, Rajoy!

  • Spanish Prime Minister Mariano Rajoy is out of power, after losing a no-confidence vote in parliament. [NYT / Raphael Minder]
  • It’s a sudden exit for Rajoy, who became the leader of Spain’s People’s Party in 2004 and ascended to prime minister in 2011. But he was ousted because of a corruption scandal that’s been going on for years. [CNN / Laura Smith-Spark and Laura Perez Maestro]
  • With Rajoy out, the opposition Socialist party was able to form a coalition to take over his seat. Socialist leader Pedro Sánchez will become prime minister, although his party doesn’t have a lot of seats in parliament, meaning his grip on power could be short-lived. [Al Jazeera]
  • Even with the shift, there likely won’t be big policy changes coming. Sánchez has said he’s going to continue most of his predecessor’s policies, but one noticeable shift could be a friendlier approach to the government of Catalonia, which moved to secede from Spain and was met with heavy opposition from Rajoy’s government. [NPR / Scott Neuman]

Miscellaneous

  • Kanye West dropped a new album today and held a mysterious, secretive listening party in Wyoming. In attendance: Jonah Hill, Chris Rock, and conservative commentator Candace Owens. [Pitchfork / Alex Frank]
  • The most important NBA content you will read if you (like me) are only casually following NBA finals: best beards of the NBA. [The Cut / Ashley Weatherford]
  • One of Britain’s foremost Brexiters would very much like to live in France now, if you please. [Washington Post / Siobhán O’Grady]
  • Vermont is shelling out $10,000 per person to anyone who wants to come to the state to work remotely. [Quartz / Corinne Purtill]

Verbatim

“The war is over and I have lost. I love Big Scooter.” [Robinson Meyer / Atlantic]


Watch this: Why Stradivarius violins are worth millions

Many musicians prefer these 300-year-old instruments, but are they actually worth it? [YouTube / Dean Peterson]


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